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Literature Review Of Compensation In Human Resource Management

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Literature review
In pace with the prevalence of Human Resources Management, the variety of competition between organizations or companies has been growing up. Considering that the trend is expected to continue, developing and maintaining a compensation and benefits management is highly recognized in the labor market since the competitions of recruiting and retaining talented employees. The successful of compensations and benefits occupies a significant role nowadays’ Human Resource Management and it is one major issue for an organization employing suitable employees.

In general, compensations and benefits are designed to gain attraction and retention of employees (Dulebohn, J. H., et al.2008). According to Sarah, L.F. and Dean, M. (2009), there are different dimensions which can help to define compensations and benefits. These dimensions include: (1) non-monetary compensation, (2) direct compensation and (3) indirect compensation. Sarah, L.F. and Dean, M. (2009) briefly explain those three types in details. Non-Monetary Compensation refers to the benefit that employee earn from their own employer. It is the benefit that an employer can be provided such as retirement plan, time off or staff discount without any payment. For offering direct Compensation, it is the fundamental wage that the employees can be received from; this kind of salary is generally based on the length of time and includes the performance-based. The last dimension is indirect compensation which is

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